regardless of the structure or age of the organization, every board has a set of principal responsibilities for its members. These include ensuring that the assets of the non-profit are used prudently and with care and protecting the interests of shareholders and showing loyalty and obedience to the governance rules (even when they aren’t in the best interests of a specific person).
Participation and Attendance to Meetings
It goes without saying that board members must be present to participate in meetings, whether in person or online. This includes examining the agenda in advance, and actively participating in discussions and taking decisions. Board members should also participate in committee meetings to understand the organization and its work.
Financial Management
This includes preparing and re-reading the budget, coordinating reserve funds, as well as ensuring that assessments are taken care of. To guide decisions and manage risks the board needs to have a good understanding of the finances of the community.
Policy Compliance/Governing documents
This is among the more significant duties that requires an understanding of the community’s documents governing the community as well as an understanding of the federal, state, and local laws. This will ensure that the community is in compliance and that the board www.boardmeeting-software.blog/4-the-most-common-reasons-for-a-ceo-to-quit can make the appropriate decisions in the event of a crisis. It also means being able to answer questions from residents and address their concerns as well as enforcing the rules when needed.